Gyroscopic Investing

Has anyone had any experience with anything like this?

I know this group is probably very difficult (and expensive) to get into, but I'm just curious to know if anyone has any experience.

http://www.newyorkangels.com

I've done angel investing, but only with people that I've known for tens of years and who are starting their own companies with teams that I think are solid.

In my opinion, angel investing only makes sense if you undestand the business better than most experts - and you have very very good access to the principals.  Anything else would be pissing your money away.  I view any angel group investment as fleecing of the four F's: family, friends, fools and fisicians.